While Increase in the Number of Operating Rooms at Hospitals Remain Marginal, Replacement Demand for Therapeutic Instruments Makes Gradual Upturn
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the domestic market of Medical Electronics (therapeutic instruments), and found out the market trends, the trends at market players, and the future perspective.
Summary of Research Findings
In this research, the therapeutic instruments refer to 32 items (out of 57 categories) of medical engineering instruments used at medical facilities like hospitals and clinics.
Out of all therapeutic devices used at hospitals and clinics, transition of shipment volume for high-end products of general anesthesia systems, ventilators, electrosurgical knives and surgical microscopes is estimated. Since FY2014, the time when facility reconstruction at large-scale hospitals were mostly completed, the number of operating rooms has not increased much, and hospital budget has been reduced in response to the tax hike and/or due to financial difficulties. Owing to these reasons, shipment volume of the high-end products has been sluggish for years.
For FY2019, at the start there wasn’t any sign of market expansion. However, inquiries started to increase from July 2019, ten months before the consumption tax hike; as a result, the last minute demand for replacements enhanced the market. Because the replacement demand is ongoing in FY2020, the market is projected to make an upturn.
Nevertheless, the outbreak of COVID-19 infections in 2020 affected the market, including sharp decline in the number of surgeries, drop in the number of patients, and delays in purchases of medical engineering instruments. It is assumed that the impact of pandemic restrains positive growth of the overall medical electronics market (therapeutic instruments).
Signs of Recovery in the Sales of High-end Instruments Compared to FY2014
Comparing indices of high-end products assuming the shipment volume of FY2014 as 100, while the market demonstrated an increasing trend from FY2009 to FY2013 (FY2009: 92.7, FY2010: 96.4, FY2011: 100.5, FY2012: 105.2, and FY2013: 108.8), it stagnated between FY2015 and FY2017 (FY2015: 90.2, FY2016: 92.2, and FY2017: 92.3), and then began to show signs of recovery again from FY2018 (FY2018: 106.2, FY2019: 102.7, FY2020 Forecast: 107.7). While the number of operating rooms is increasing marginally, the recovery can be attributed to gradual rise in the demand for replacements.
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